Bitcoin Startup Zap Is Working With Visa
Lightning developer and Zap, Inc. founder Jack Mallers announced Thursday his startup’s Strike product, which allows people to receive bitcoin as dollars via direct bank deposits, is finally entering public beta. He said his primary focus this year is launching a Strike card for consumer app users and integrating Visa Direct into the consumer app, which is the program that makes Venmo payments so fast.
“Traditional tax rules would apply to the financial transaction, and the exchange would bear the taxable cost of the bitcoin sale, not the individual,” attorney Sasha Hodder of DLT Law Group said in an interview, describing one potential benefit of Strike’s setup. Strike user Tyler said he hopes the service will “allow merchants to accept and use bitcoin with Lightning without their customers knowing or spending bitcoin.”.
